Home Buying in Miami>Question Details

Jose Vallada…, Home Buyer in Miami, FL

How could I find a nice home in Miami through an FHA program?

Asked by Jose Valladares, Miami, FL Sun Mar 11, 2012

I have an FHA approved for $140,000. I have also an excellent credit and work for the Miami Dade County but I can't find any home in the SW neighborhoods. I have been looking for months and put 2 offers on short-sales that has been a waste of time for me. I would like to find a house 3/2 with at least 1500 sq ft, a decent backyard, a garage for one car, and if possible no HOA.

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I am sorry to hear about your misfortune with short sales. I am working with clients who put in their offer July 2011 and as of yet there is STILL not a contract. If it's thru Bank of America that explains why...

You may need to be creative with finding homes thru MLS. You may wanna drive thru the neighborhoods that you like and look for FSBO's and then get with your real estate agent and have them call and set up an appointment. that way your realtor will be happy that she gets to work with you and make a professional fee, and you get buyers representation....

Good luck.
1 vote Thank Flag Link Sun Mar 11, 2012
I like to apoligize for my fellow realtor Steven Epstein remarks (What you describe in your experiences with Short Sales only confirms that it is the agents who are handling the transaction that largely govern its success or not).
Those remarks just do not sound right to me. As a Real Estate Agent who have done so many short sales, do not think that we realtors/agent are to be blame for the Lenders decision. He talks about a CDPE certificate as if any realtor that do not have that short time training, does not know what they are doing.
Please forgive him as I am sure he did not mean to make us look bad. My advice to you is that you be Loyal and trust your realtor and you will see results. The same goes about trusting your Loan Originator and stick with him/her till the end.
1 vote Thank Flag Link Tue Mar 13, 2012
Hello Jose, How are you today? 3 things: #1. What you describe in your experiences with Short Sales only confirms that it is the agents who are handling the transaction that largely govern its success or not. Lender's are certainly very interested in approving Short Sales, my present success rate is 80%. The listing & selling agents both need to know what they're doing. You'll want to hire a C.D.P.E. (Certfied Distressed Property Expert) a nationally & lender recongnized level of knowledge, education & experience that only about 34,000 agents (of more than 1M) nationwide have spent their time, money & expertise mastering and attaining. #2. The inventory in the price range & description of your next home is largely going to be found in Cutler Bay, Colonial Dr, Coral Reef Drive areas of 33157, 33189 & 33190, unless you want further south towards Princeton & Homestead. And they will be older homes as those are "ole-fashioned suburbia" with NO HOAs. So my question is, will those areas work for you? And if not, what areas are you considering? #3. The lender you work with is also critical in today's financing market & I work with several as I am also an approved REO Listing/Selling Agent with several institutions. So send me an email, give me a call and let's set up an interview to discuss your wants & needs further then you can decide if you want to hire me to help you find & buy your next home. There are no obligations and I'm ready to apply for the job. Thanks, Steve Epstein 305-546-5132
1 vote Thank Flag Link Mon Mar 12, 2012
Jose, Miami-Dade County Residential Real Estate is rising very fast. FHA program which is great because allow you to buy with only 3.25% downpayment. Looking for a property in a good Location cost money, Location is equal to money. If you need an experienced Real Estate Agent, call me to guide you to a property with decent backyard, maybe no with all details you have in mind (due market is up and up in Miami), but at least with price you are looking for. Nereida Figueroa-Realtor beside you 305 519-3199

Please see below information, about the Real Estate Market in Miami-Dade.

Miami, FL – The total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of January increased 24.8 percent, from 2,746 in January 2011 to 3,426 in January 2012, according to the 26,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. In more detail, single-family home and condominium sales that pended during the month increased 46.4 percent and 13.6 percent respectively compared to the previous year. Compared to the previous month, total pended sales decreased 27.4 percent.
Cumulative Pending Sales
December cumulative pending home sales – including single-family homes and condominiums - in Miami-Dade County were 6.3 percent above what they were a year earlier, up from 11,182 to 11,887, and 5.4 percent higher than the previous month, up from 11,279.
“Pending sales, which typically predict future closing activity, continue to rise in Miami-Dade County,” said Martha Pomares, 2012 chairman of the board of the MIAMI Association of REALTORS. “After a record sales year in 2011, our inventory levels declined sharply. Current trends continue to reflect demand for Miami real estate.”
Pending sales of condominiums were 4.2 percent higher than they were a year earlier, up from 6,497, and five percent above what they were the previous month, up from 6,481. Pending sales of single-family homes were 9.2 percent above what they were a year earlier, up from 4,685 to 5,115, and seven percent above the previous month, when pending single-family homes sales totaled 4,798.
1 vote Thank Flag Link Mon Mar 12, 2012
For 140K the only place you can find a house with this descriptions is south of Tamiami airport, unfortunately everything else even in the north of the Tamiami airport prices are different than south side.
If you still looking for a property for up to 140K my suggestion to you is cutler bay area, nice houses with all the descriptions you required or a townhouse on the same area or close to the tamiami airport.

If you still looking for an opportunity give a call I will help you in the process.

Thank you,

Carlos Escamilla
Realty World Executive Homes
0 votes Thank Flag Link Mon Mar 19, 2012
Give me a call and I'll help you 305-794-8435 or email olsfla@hotmail.com
0 votes Thank Flag Link Mon Mar 12, 2012
There are lots of properties that match your description, we need to sit down and go over options. I will be happy to assist you, give me a call at 305-662-2572. Thank You
0 votes Thank Flag Link Mon Mar 12, 2012
Give me a call, I WILL find you something, alot of people think short sales are a waste of time right up until your offer is accepted. 305.305.8444 Ray G.
0 votes Thank Flag Link Sun Mar 11, 2012
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